First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $85.00

Key Points

• DA Davidson raised First Business Financial Services’ price target to $85 from $80 while maintaining a “buy” rating, implying 10.05% upside from the previous close.
• Analyst sentiment remains positive: the stock has an average “Buy” rating and an average price target of $82.50, with Piper Sandler raising its target to $88 and Raymond James maintaining an $83 target.
• FBIZ shares rose 2.4% to $77.23 after the company beat quarterly earnings expectations, reporting $1.95 EPS versus the $1.67 consensus and revenue of $47.51 million.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) had its price target upped by equities researchers at DA Davidson from $80.00 to $85.00 in a research report issued to clients and investors on Monday, Benzinga reports. The firm currently has a "buy" rating on the financial services provider's stock. DA Davidson's price target points to a potential upside of 10.05% from the company's previous close.

Other equities research analysts have also issued research reports about the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $83.00 target price on shares of First Business Financial Services in a research note on Monday. Piper Sandler boosted their price target on shares of First Business Financial Services from $84.00 to $88.00 and gave the company an "overweight" rating in a research report on Monday. Keefe, Bruyette & Woods reissued an "outperform" rating and issued a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Finally, Weiss Ratings upgraded shares of First Business Financial Services from a "buy (a-)" rating to a "buy (a+)" rating in a report on Thursday, October 8th. One investment analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Buy" and an average price target of $82.50.

First Business Financial Services Trading Up 2.4%

FBIZ stock traded up $1.83 on Monday, reaching $77.23. The company's stock had a trading volume of 27,028 shares, compared to its average volume of 49,401. The business has a fifty day simple moving average of $70.99 and a two-hundred day simple moving average of $62.34. First Business Financial Services has a 12-month low of $49.36 and a 12-month high of $77.63. The firm has a market cap of $646.30 million, a PE ratio of 11.34 and a beta of 0.67. The company has a debt-to-equity ratio of 0.90, a quick ratio of 1.06 and a current ratio of 1.06.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings data on Thursday, October 29th. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.67 by $0.28. First Business Financial Services had a net margin of 19.93% and a return on equity of 15.27%. The business had revenue of $47.51 million for the quarter, compared to the consensus estimate of $46.88 million. As a group, research analysts forecast that First Business Financial Services will post 6.59 EPS for the current year.

Insider Transactions at First Business Financial Services

In other First Business Financial Services news, insider Jodi Chandler sold 675 shares of the firm's stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total transaction of $47,378.25. Following the completion of the transaction, the insider owned 22,550 shares of the company's stock, valued at approximately $1,582,784.50. This trade represents a 2.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 5.00% of the company's stock.

Institutional Trading of First Business Financial Services

Hedge funds and other institutional investors have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new position in shares of First Business Financial Services in the 2nd quarter worth about $43,000. Legal & General Group Plc bought a new stake in First Business Financial Services during the second quarter worth about $51,000. Algert Global LLC bought a new stake in First Business Financial Services during the second quarter worth about $226,000. Jones Financial Companies Lllp bought a new stake in First Business Financial Services during the second quarter worth about $234,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in First Business Financial Services in the second quarter worth about $255,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

About First Business Financial Services

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.

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